Aug. 3, 2007: Why didn't your Phoenix-area house sell? Price, preparation, presentation -- and availability
So your house didn't sell. Now what?
Six months ago -- or was it a year ago? -- the world was young and ripe for the picking. You listed your home for sale, confident that you'd have a buyer in no time. Full price and then some. Why not? The neighbors got it. Sure, that was two years ago, but you have better carpets and new countertops.
So you talked to three Realtors and hired the one who said he could get your price. His marketing plan was long on networking and short on practical details, but -- what the heck? -- houses sell themselves, don't they?
You read an article a while back about staging, but you don't need that. You've got great furniture. And even though your Rotweiller is hardly ever a problem, it seemed prudent to make the listing by-appointment-only.
This is the way it is: In most neighborhoods in the Valley right now, there are at least five homes for sale that might work for each buyer in the marketplace. The only homes that will sell are the ones that are priced, prepared, and presented right and are available for buyers to see.
Why did your listing expire? You missed the market in one or more of those criteria. If you priced your home above the market, you sabotaged your sale from the outset. Prices are declining in most areas, so even if you made successive price reductions, you were probably still always above market value.
If the house wasn't repaired and staged to perfection, buyers bought the homes that were. If it wasn't available to be shown, there is no possibility it could have sold. And, alas, if you fell for happy babble about your Realtor's vast network of relationships, then all you were missing was a marketing plan.
What now? If you need to sell now, relist at the market price -- with a Realtor who has a real marketing plan and detailed instructions for you. If you can afford to wait, the market will turn around eventually, but it might be a long while.
Greg Swann is the designated broker for BloodhoundRealty.com, a full-service Metropolitan Phoenix real estate brokerage. This article originally appeared in the West Valley regional sections of the Arizona Republic.
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Am I link-baiting? You bet. The quid pro quo is free content for your site that pulls eyeballs and excites interest.<a href="http://www.bloodhoundrealty.com/" target="_blank"> Phoenix Realtor Greg Swann</a> suggested I share this with you:
